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HyperLiquid Corrects Sharply After Failed Breakout, $30 Support in Focus
HyperLiquid Corrects Sharply After Failed Breakout, $30 Support in Focus
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BTCCSquare news:
HyperLiquid's HYPE token has entered a corrective phase after failing to sustain above the critical $42.24 resistance level. The breakdown marks a significant momentum shift, with traders now eyeing the $30 support zone as the next potential battleground.
Volume weakness exacerbates concerns, reflecting dwindling demand at higher levels. The failed auction at all-time highs suggests bears have gained control, with the point of control NEAR $30 emerging as a make-or-break level for bulls.
Technical structure shows clear deterioration following the rejection. Market participants appear to be repositioning as the value area low comes into play, setting up a crucial test of buyer conviction.
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